HINDALCO trade ideas
HINDALCO WILL TOUCH 370As per my view good volume buying coming in metals and for HINDALCO strong support is 335 and target will be 370 and 400.
Hindalco Break OutHindalco has broke the long weekly Peak marked with Horizontal Line with a Strong Candle on Daily Basis, Also Broke a upward Trend line... Seems to be moving towards uncharted Territory....
Hindalco - Looks good for going long in deliveryThe price action looks positive for short to medium term
HINDALCO - Short setup Stock is currently trading in third stage of market cycle .
1-Accumulation 2-Rally 3-Distribution 4-Rejection
currently at the peak , at the overbought zone. Has formed a broadening pattern on the top which is rejected by a overhead trendline.
RSI DIVERGENCE
Looking to short once the Chart pattern is broken and retested .
DAY TRADINGMight be a possible day trade
*Strong Resistance Line: It is already pushing the stock down
*Selling Zone: The resistance Line is pushing it to the selling zone
*Buying Zone: The buying zone is bellow the selling zone and probably might come in action
Hindalco near ATHA long term resistance has been broken
There is small gap to ATH
One may go long with the breakout resistance as SL
bullishstock has risen 33 % from our first entry( just check old post) .volumes rising , poor selling ,qulity buying, price above 200MA, broken small consolidation.
Hindalco Breakout from a triangle patternNSE:HINDALCO
Breakout from the TrendLine and retested the line
1st T@rget : 265
2nd T@rget : 271
SL : 250
Hindalco - Probability of Crab PatternHindalco daily chart has got a probability of Crab Pattern.
Sustaining above 250 levels, chances are high, that It will movards 272 and above..
Hindalco: U-Turn?Price formed a double top pattern at major resistance level (on monthly charts). At retest of the support, price has formed a Gravestone Doji followed by Bearish Engulfing (on daily charts) both of which are negative signals. Since past 2 years corrections have been triggered from the month of January, again this cycle may be repeated
Hindalco - Intraday Trade SetupHindalco CMP - 241
Looking bearish in higher time frame. One can go for Intraday Trade setup with the following entry, exit & targets
Sell At or Below 240 / Stop Loss 245
Target 1 - 237
Target 2 - 234
Target 3 - 232
Disclaimer: This is my view and for educational purpose only.
Go short if open flat or almost flat and cross level1) If open flat or almost flat and broke this support level. Go for short
2) If breaks above trendline, Go long for target 255
